one compared to the one without experience. * This scenario reveals that‚ there izs a skills gap between what skills are required by employers and what skills graduates have. * Lack of experience and skills are also causes of graduate unemployment. private sector today is not interested in recruiting local graduates because they lack essential skills‚ such as proficieny in English and interpersonal skills. 1. Economy Firstly‚ the economy factor also causes why fresh graduate unemployed
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Introduction The nation’s high unemployment rate is a result of a severe drop in demand for goods and services. It’s not a reflection of longer-term structural changes in the economy but rather cyclical changes in the economy. The demand for goods has been limited because of tight credit‚ decreases in government budgets‚ suppression of demand by consumers and foreign markets‚ and the inability by the fed lower interest rates. Even with the low level of interest rates the Fed is currently practicing
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Towards solving youth unemployment in Nigeria The federal government recently inaugurated inter-ministerial committee on job fair to address all the identified barriers to job creation and sustainable livelihood in the country‚ OLUGBENGA SALAMI writes Tell those graduates to stop combing here and there for jobs. If there are no lucrative offers of employment‚ they should establish themselves by starting something. Unemployment is a pest that has and still eating deep into the fabric of Nigeria
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Report 1 Discussion on whether the introduction of maximum prices by a government would solve the problem of scarcity. 1.0 Introduction: A maximum price is a price set by government to limit the amount sellers are allowed to charge for their products or services. This is to prevent sellers from setting high prices and thus‚ making goods more affordable for the general public. While their intention to protect the welfare of consumers is well-meaning‚ this measure can sometimes backfire when
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Economics Commentary U.S. Employers slashed jobs for the third straight month in March and unemployment rose to a nearly three-year high‚ offering the latest signs that the economy has fallen into a recession. The Labor Department’s much anticipated report‚ released Friday the 4th of April‚ showed a net loss of 80‚000 jobs last month. That marks the third straight month that jobs have fallen - the longest period of decline since early 2003. Now having acknowledged that the US is in a recession
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#4 (Unemployment) 1. The natural rate of unemployment definition: the long-run average or “steady state” rate of unemployment depends on the rates of job separation and job finding 2. Frictional unemployment due to the time it takes to match workers with jobs may be increased by unemployment insurance 3. Structural unemployment results from wage rigidity: the real wage remains above the equilibrium level caused by: minimum wage‚ unions‚ efficiency wages 4. Duration of unemployment most
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Unemployment Rate in Singapore decreased to 1.80 percent in the third quarter of 2013 from 2.10 percent in the second quarter of 2013. Unemployment Rate in Singapore is reported by the Ministry of Manpower Singapore. Unemployment Rate in Singapore averaged 2.51 Percent from 1986 until 2013‚ reaching an all time high of 6 Percent in the first quarter of 1986 and a record low of 1.40 Percent in the second quarter of 1990. In Singapore‚ the unemployment rate measures the number of people actively looking
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Causes of Unemployment In Malaysia‚ the unemployment rate is considered low compared to the early years such as 1986 where the unemployment rate reached as high as 7.6%. Today the unemployment rate is still affected by many factors and in order to make sure it doesn’t reach as high as before‚ we need to find out the causes of unemployment so that we can provide a solution to the cause of it. Foreign labor force with lower wage or salary Redundant workers and fresh graduates with qualifications
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Number: CIIT/FA14-BSE-083/ATK “Causes of Unemployment” There are many quotes about unemployment according to Calvin Coolidge unemployment occurs ‘’When large numbers of men are unable to find work unemployment results’’. According to Frank P. Louchheim ‚ ’’An ‘acceptable’ level of unemployment means that the government economist to whom it is acceptable still has a job’’. While George Walker Bush said‚ ‘’In the long run‚ the right answer to unemployment is to create more jobs’’. Keeping the above
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i) Frictional Unemployment The function of labour market is to match available jobs with available workers. If all jobs and workers were the same‚ or if the set of jobs and workers were static and unchanging‚ this matching process would be quick and easy. But the real world is more complicated. In practice‚ both jobs and workers are highly heterogeneous (non-uniform). Jobs differ in their locations‚ in the skills they require‚ in the working conditions and hours‚ and in many other ways. Workers
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